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This Cybersecurity Startup to Build Offers Around IoT & Cloud Security

Cybersecurity will act as a shield that would protect the majority of users from falling prey to the cyber-attacks taking place on the metaverse.

Pankit-DesaiSequretek is a B2B cybersecurity firm that was formed in November 2013 with a mission “to empower customer’s growth without fear as their trusted security partner by simplifying security” and a vision “to simplify security by consolidating the technology landscape”. Sequretek offers end-to-end security in the areas of enterprise threat monitoring (Percept XDR), incident response, device security (Percept EDR), and identity & access governance (Percept IGA) through their own AI-driven Percept Cloud Security Platform. During an interaction with Nitisha; Pankit Desai, Co-founder & CEO, Sequretek elaborates his journey and his focus on security threat management platform.

Kindly talk about Sequretek and its offerings.

If you look at any technology, it goes through a curve where there is complexity in the beginning and over a period it becomes simple and commoditized. The security industry is going the other way where every year new technology areas emerge in response to new threats. All these options make the life of have-nots difficult since they do not have the resources to understand what, why, when, and how of their needs.

Sequretek is a B2B cybersecurity firm that was formed in November 2013 with a mission “to empower customer’s growth without fear as their trusted security partner by simplifying security” and vision “to simplify security by consolidating the technology landscape”. Sequretek offers end-to-end security in the areas of enterprise threat monitoring (Percept XDR), incident response, device security (Percept EDR), identity & access governance (Percept IGA) through their own AI driven Percept Cloud Security Platform.

1) Percept Extended Detection and Response (“Percept XDR”): Predictive threat detection and analytics, threat hunting, and threat mitigation using deep learning algorithms, big data lakes, and automated incident orchestration layer. The product offers over 600 use cases across Threat Intelligence, Malware Intelligence, User Behavior and Entity Behavior analytics.

2) Percept Identity Governance and Administration (“Percept IGA”): An end-user access governance offering for employee lifecycle management ensuring that employees get the right access at the right time. The product offers enhanced features like AI based user behavior cases, single sign-on, multifactor authentication and user access review.

3) Percept Endpoint Detection and Response (“Percept EDR”): An endpoint security product which ensures that no malicious files infect your endpoints using AI and ML, and self-updates to fix existing vulnerabilities. The product is Day 1 deployment ready along with 24×7 management and monitoring.

Kindly throw some light on metaverse and security.

Metaverse enables you to create and live in an alternate realm. You could think of it as an amalgamation of technologies like AR, VR, NLP, AI, and 3D Graphics, that have existed now for a while, but they will be coming together for the very first time. Therefore, security will be a great risk as the technologies operate on different datasets and work towards different objectives. I believe it would come along with security risks, just like with anything new into the market. The multiple layers of technologies leveraged in the metaverse will create indefinite opportunities for attackers to mask their identities. Furthermore, lack of a legal compliance framework would highly impact the victims of financial frauds, data leakage and privacy violations.

How will cybersecurity change the metaverse?

Cybersecurity will act as a shield that would protect the majority of users from falling prey to the cyber-attacks taking place on the metaverse.

The metaverse will demand a lot more from cybersecurity, so as to be secure from cyber-attackers. The cybersecurity platforms will then be expected to monitor and detect incidents from a humongous amount of data, data types, and in multiple formats. Furthermore, it will have to be monitored through the same platform that takes care of the enterprise security monitoring, so that the movement and attempts by the threat actors can be viewed and acted upon, in a timely manner.

Talk about different types of attacks that are targeting individuals and enterprises.

The two biggest challenges in my mind have to do with security risk followed by access disparity. The sheer amount of independent tech components created through a closed ecosystem pose a challenge for supply chain attacks, zero-day vulnerabilities and an insecure code base. We have already seen a similar situation where IIOT technologies built on closed platforms creating silos and opening themselves to industrial attacks. The second concern is that there is still 40% of the world that is disconnected from the internet, creating a world of have-nots for greater acceptance of the metaverse.

Kindly share Covid impact on business.

I’d say, Covid has been kind to businesses in cybersecurity. The businesses were forced to adopt the digital journey, to continue serving their respective customers. Very soon, there was a sharp spike in the number of phishing and ransomware attacks, giving rise to security concerns across industries. The enterprises then became more concerned regarding the security risks and their impact on their business, which was not the case before.

We supported Small and Medium Businesses during this period by offering them our Security Services on No-Cost Basis (without any commitment to mandatory sign-up later). We are happy that 30 of them got converted as our regular customers, post our campaign.

What kind of challenges a cybersecurity startup is facing and how can it be resolved?

The cyber threat landscape is continuously evolving with more stealth and sophistication. Each malware or a bad file, depicts various characteristics as well as operating patterns. It becomes considerably difficult for the security analysts and back-end teams to detect such unknown and advanced patterns through the legacy tools that are available in the market.

Advanced and hard to detect threats such as targeted phishing attacks, ransomware, coin miners, trojans, zero-day threats and persistent threats are today’s reality for threat management. More often, the attacks nowadays carry stamps of adversary nation state sponsored espionage and disruption over a long period of time.

The cybersecurity startups today need to leverage the cutting-edge technologies for prevention, detection, response and mitigation of these threats. They need to enable the highest degree of automation, follow robust processes, and need to have a well-trained team of security professionals to carry out the processes.

Overview of 2022: Cybersecurity landscape in India and globally.

As in the previous years, there has been an ever-increasing flood of stories of malware campaigns and data breaches in 2022, globally. The ransomware landscape continues to grow and become more complex like each successive year. A few of the recent attacks include:

  1. Ransomware Attack on World’s Largest Semiconductor Chip Company, compromised with a ransomware attack in February 2022.
  2. Conti Ransomware group attacked a Government Body, due to which the country had to declare a national emergency in response to a cyber-attack.
  3. A global automobile manufacturing giant’s supplier was attacked, due to which the organization had to halt operations in 14 of its Japanese plants. The hack is said to have resulted in a 5% dip in the company’s monthly production capacity.
  4. An Indian Airline faced an attempted ransomware attack, which left hundreds of its passengers stranded in several locations in the country.
  5. Towards the very end of 2021, the world was all over Log4j as it was part of a very basic framework that is common to all enterprises.

The security teams need to re-think the technology stack such that it addresses the new sophisticated threats. A transformed work environment with a mixture of remote work and increasing cloud adoption would furthermore exacerbate the concerns of security teams.

Kindly share your future marketing strategies and also talk about your upcoming projects.

We, at Sequretek, have always believed in innovation, thereby investing heavily on R&D. Going forward, our focus will be to upgrade our product stack & build offerings around IoT & Cloud Security.

From a marketing standpoint, we will continue to expand to newer regions and industries through existing and new age i.e., the digital channels.

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Nitisha Dubey

I am a Journalist with a post graduate degree in Journalism & Mass Communication. I love reading non-fiction books, exploring different destinations and varieties of cuisines. Biographies and historical movies are few favourites.

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